The popular junket operator Suncity, which has been hosting VIP gambling rooms in Macau casinos for a long time, announced that it is about to start a new venture.
Representatives of the most popular junket operator revealed that executives are willing to further expand the business and invest in establishing a luxurious resort featuring a hotel and a casino floor. It is to be located on the largest island of Vietnam – Phu Quoc.
Company’s CEO, Alvin Chau Cheok Wa, is said to be discussing the matter with the Vietnamese officials. He even visited the country a few days ago.
Initially, the exact location of the resort was said to be Bai Truong. However, it became clear that the area is already occupied by other investors so Suncity executives had to settle around the idea of another location and this time, the north side of the island, or to be more precise, the Rach Tram Hamlet was the chosen area.
Last week, the information about the discussions between Vietnamese authorities and Suncity officials was not approved but later, it was officialy announced that the company has keen interest in establishing a casino resort in the country. In point of fact, Nguyen Thanh Nghi, the Vice Chair of Kien Giang Province himself provided the media with the information needed.
He recommended Suncity to take imminent actions towards the submission of an investment plan and did not miss to remind them to consider every detail related to the gambling rules and regulations valid on Vietnamese soil.
Actually, Suncity officials are relentlessly working towards expanding their business and entering foreign gambling markets. Back in 2014, they have inked a deal for sending VIP players to Naga Corp. in Cambodia.
As for their venture in Macau, their VIP rooms are available in the most iconic casinos in the administrative region and they take pride in having a relatively profitable business despite the issues that have befallen the local gambling industry.
Apart from that, Suncity is about to start operating in the Philippines’ City of Dreams Solaire Resort and Casino.
Actually, the efforts of Suncity executives to become available on other Asian markets are not useless at all. Currently, several Asian countries, including Cambodia and Malaysia, are attempting to diversify their gambling sectors and lure the wealthiest Asian players who used to visit Macau-based casinos solely.
For the time being, market analysts do not consider the expansion to cause oversaturation or at least this will not happen within the next few years.
